Deal reached on aborted sale of Columbiana Co. rail line
COLUMBIANA — The Columbiana County Port Authority is keeping one-third of a good-faith payment given by a Canadian energy company that decided against purchasing the Youngstown & Southern rail line.
The port authority is keeping $50,000 of the $150,000, said Tracy Drake, the organization’s executive director.
The agreement comes before the release of a final report on the environmental
concerns cited by Tervita, which claimed there was contamination near a rail-car barn on the southern portion of the line.
Under terms of the $2.9 million agreement, Tervita was permitted to stop the deal because of environmental concerns. It did so in August.
“We kept $50,000, and that was done prior to the final determination simply because we wanted to get it settled,” Drake said.
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